Fin645 final exam 2017

For the final exam, please select any three cases from the Harvard

course pack for this course, summarize those three cases, and discuss

what common themes you can identify amongst those three cases. Please

submit a Word file to the Final Exam Assignment Folder consisting of 6

to 8 pages of content by 11:59pm ET on Sunday, 4/23/17.

Cases

1. The Fall of Enron Case Analysis Why was Enron such an admired

company prior to 2000? Why did the company fail? Why were the company's

internal checks and balances and incentive systems unable to prevent its

demise? Why did the external auditors and board fail to prevent Enron's

failure?

2. Accounting for the iPhone at Apple, Inc. Case Analysis Discuss

GAAP versus non-GAAP numbers and their impact on financial statements.

Which method best reflects the economic reality? Should Apple lobby for

their non-GAAP numbers? Revenue recognition rule for smartphone.

3. Harnischfegar: Practice Case Analysis Identify all the

accounting policy changes and accounting estimates that Harnischfeger

made during 1984. Estimate, as accurately as possible, the effect of

these changes on the company's 1984 reported profits. What do you think

are the motives of Harnischfeger's management in making the changes in

its financial reporting policies? Do you think investors will see

through these changes? Assess the company's future prospects given your

insights from questions (1) and (2) and the information in the case on

the company's turnaround strategy.